Island & Resort Commercial Property

Tasmania is starting to attract island resort developers and operators, albeit on a much smaller scale than Queensland.

The Singapore and Taiwanese family of high-net-worth individuals buying Queensland’s Great Keppel Island will pay about $70 million to purchase the second half of the island’s staged development, known as the Clam Bay lease, from Sydney developer Terry Agnew.

The hype surrounding the relaunch of several high-profile Queensland islands early next year is expected to underpin the marketing of Long Island, which has a price expectation of about $20 million.

Queensland’s Great Keppel Island Resort is poised to be sold to offshore interests for around its $20 million asking price after years of languishing on the market along with several of the Sunshine State’s once iconic islands. 

The multi-billionaire Oatley family is planning to spruce up its Queensland island resort, following hard on the heels of other ­island resort redevelopment by investors such as the Chinese owners of Lindeman and Daydream islands, as well as Malaysia’s Mulpha Group on Hayman Island.

Malaysian conglomerate Mulpha Group is investing more than $100 million reinventing its posh Whitsundays resort which is to be rebranded Hayman Island, by InterContinental after the British and American listed hotelier signed a long term management agreement.

A stunning private Bahamas island with the potential to become one of the world’s most exclusive retreats is on the market, with a price tag of more than $114 million.

Resort operators are being offered the chance to run not one, but three luxury resorts on the newly redeveloped Lindeman Island in Queensland’s Whitsundays.

Work has begun on the first new tourist accommodation on Rottnest Island off Fremantle in Western Australia in more than 30 years.